Reports say Biden intends to block U.S. Steel deal with Nippon Steel, as workers rally in Pittsburgh

The Washington Post and Financial Times are reporting that President Biden is going to block the U.S. Steel/Nippon Steel merger.

This on the day that U.S. Steel employees are rallying outside of the company headquarters in Pittsburgh to show support for the deal.

In a press statement on Wednesday about the rally, the company said:

Without the Nippon Steel transaction, U. S. Steel will largely pivot away from its blast furnace facilities, putting thousands of good-paying union jobs at risk, negatively impacting numerous communities across the locations where its facilities exist, and depriving the American steel industry of an opportunity to better compete on the global stage. In addition to moving away from integrated steelmaking, the lack of a deal with Nippon Steel raises serious questions about U. S. Steel remaining headquartered in Pittsburgh.

Back in December, U.S. Steel announced they had plans to merge with Nippon. The company owns Minntac and Keetac.

Since that time, they’ve faced opposition from lawmakers and the United Steelworkers.

Vice President Kamala Harris just said she opposes the deal. Former President Trump has said that as well.